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The compensation committee of the New York Racing Association on Wednesday recommended that NYRA try to recruit a new chief executive officer with $300,000 in guaranteed money and a $250,000 bonus opportunity.

The committee, led by Vincent Tese, said a search consultant advised that the CEO job likely would be worth $600,000 to $1.1 million in annual compensation. Tese said that NYRA needs to be sensitive to the fact that the association is now structured as a quasi-public agency so a smaller package for an attractive job was necessary.

The selected candidate could improve the deal if and when NYRA returned to private control, NYRA members said during its public meeting in Manhattan. The NYRA board is now under a three-year term of being run by mostly public appointees of the governor and Legislature.

Gov. Andrew Cuomo’s adviser on the board, John Hendrickson, noted that some of the subordinates of the CEO make more than $300,000 annually. Tese said an incentive for the new CEO to make another $250,000 will be set according to reaching milestones that will be developed.

The new CEO would replace Ellen McClain, who has resigned and is staying on during a transition period. She replaced Charles Hayward, who was dismissed by the NYRA board last year. His salary was at least $475,000 a year.

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